Uniswap is getting very involved with NFT.
When its NFT platform goes live, the automated market maker will add the decentralized NFT marketplace Sudoswap to make it easier to swap NFTs.
Scott Gray, who is in charge of NFT products at Uniswap Labs, told the news.
Users will be able to buy NFTs on the Uniswap platform and use sudoAMM’s on-chain liquidity at the same time.
The automated market maker sudoAMM for Sudoswap came out on July 8. Automated market makers let digital assets be traded automatically using liquidity pools instead of a traditional market where buyers and sellers need to be matched.
Users can use sudoAMM to set up pools that buy or sell NFTs gradually along price curves, provide liquidity to NFT pools to get paid, or directly list their NFTs at fixed prices.
“Right now, the NFT market is based on centralized orderbooks, which can go down and pose a centralization risk,” Sudoswap wrote on Twitter. “This is different with sudoAMM because it is fully on-chain. Anyone can use Ethereum to get access to the same liquidity that the Sudoswap marketplace uses.
By adding sudoAMM, Uniswap is putting even more focus on NFTs. It bought the NFT aggregator Genie last month.
With $1.09B in trades over the past 24 hours, Uniswap is the largest decentralized exchange. In terms of fees, it has recently passed Ethereum.
Sudoswap also plans to add support for ERC-1155 tokens, ERC-20 token routing, and more unique bonding curves and AMM management infrastructure in the future.